Kodal Minerals Share Discussion Threads

[thelung] 02/8/2018 12:52

Thanks Ed.

[edgein] 02/8/2018 12:50

When you dissect our cap into £3.5m cash, £5m gold assets, £5m lith assets its looking a tad light on the lithium side of things, ;)

Regards,
Ed.

[edgein] 02/8/2018 12:43

Thelung,

No they've been drilling fairly constantly since 2016. I reckon they were on around 15,000m of drill holes (80 holes) by around March '17. That gave them around 28Mt of lith on their first upgrade after the maiden resource. But that back then was substantially less than the metres and holes and strike length drilled by KOD currently. Had KOD followed a similar pattern of early JORC followed by multiple upgrades their share price would be multiples of where it is now. Just gonna make the maiden JORC more eye catching now though.

Regards,
Ed.

[edgein] 02/8/2018 12:40

By the time they had drilled a further 5,000m (i.e.) 10,000m in total they had established a strike length of 700m. Ngoualana currently 850m+ with a parallel zone of unknown length, Boumou 400m and Sogola-Baoule 1400m+



By 15,000m total they'd extended their main zone by about the same length and were preparing the scoping study/PFS:



They moved up to around 29Mt by drilling just 29 more holes beyond the first 51 for the maiden resource. These additional holes had similar intercepts to KOD's drilling 20-30m etc. Grades perhaps a little higher.



I guess by this second upgrade they may have been on about 15,000m like the post above. I don't think I need to go further than this though right up to current 100Mt.

Regards,
Ed.

[thelung] 02/8/2018 12:29

Ed - they're at 103.2Mt resource after 15,000m drilling?

[edgein] 02/8/2018 12:22

eazy,

Their second drilling programme was for an addtional 10,000m bringing them to around 15,000m. About half of what KOD has drilled to date.

Regards,
Ed.

[edgein] 02/8/2018 12:20

Holee Fourtune fellas:

Birimian provided the principal sources of information used in this Mineral Resource estimate including drilling databases, a topographic surface, mapping information and a geological interpretation of the mineralised pegmatites. In total, 50 holes for 5,179m of drilling informed the resource model.

The mineral resources are defined by reverse circulation (RC) and diamond (DD) drilling. The majority of drilling is at 50m x 50m and 50m x 25m spacing on the Main pegmatite zone. This spacing is adequate to establish the geological and grade continuity for reporting of Mineral Resources.



While BGS had wider intersects of lith they drilled an absolute fraction of the areas that KOD had. They had two parallel zones like we have on Ngoualana, but just over 5,000m drilled to eastablish the maiden 15.5Mt. We've drilled about 6 times that with high grade lith in all discoveries. BA get it out "by September" fella! Mouth watering, eyebrow raising, jaw dropping, take your pick.

Regards,
Ed.

[eazymoney] 02/8/2018 10:54

Hi Edgein

Yeah correct had a look maiden 15.5Mt, 51 holes for 5179M, bit light on the drilling but suppose very consistent? So I see from BGS RNS's the increases, 27.8Mt, 32.9Mt, 65Mt and now 103.2Mt and the amount of holes drilled 51,80,142,261 cant see the last one for the 103.2Mt resource. 229,000t maiden Li20 then 393,000t, 451,000t, 931,000t cant see the last one for the 103.2Mt resource.

Anyway unless I am blind cant find the metres drilled for those resource increases. Would be very interesting to know I think. If you know the 2 blanks aswell (total holes and total tonnes for last resource) would be cool.

Cheers

[edgein] 02/8/2018 09:45

Thelung,

Good man. Its possible that we may come in close to BGS's second upgrade of around 34Mt, but I'd need to take a closer look. Your top up looks well timed, best to get in early in this scenario.

Regards,
Ed.

[thelung] 02/8/2018 09:42

'courage of my convictions' - indeed Ed - just picked up another 5.8m at 0.17

[edgein] 02/8/2018 09:03

eazy,

Someone posted earlier that it was based on around 5000m but I've not had time to check. That seems a bit slim for 15.5Mt, I might get time to check later. I know that both SAV and PREM announced maiden on around 9,000m (9Mt and 16Mt respectively with further upgrades since). So clearly KOD drilled for another year or so beyond their first 9,000m, with now 30,000m ish on 3 "advanced" discoveries. So strapped in baited breath, courage of my convictions, got the minerals to hold for a much more realistic share price.

Regards,
Ed.

P.S. If I get some time later today I'll have a look at Birimians maiden JORC.

[eazymoney] 02/8/2018 08:58

Hi Guys

Some useful posts on here, it's a help in trying to roughly calculate what resource they may announce. Obviously it's a bit "finger in the air" because of the comments made by BA in the webcast as to what may be included. Does anyone know the metres drilled for each of BGS's JORC's? As both projects have similar geology then that could give a decent representation of what to expect.

Cheers

[edgein] 02/8/2018 08:37

Thelung,

Yeah good volumes today again. I wouldn't be surprised if many that left us over the last year after the JORC was delayed will be scrambling back in for the action to come.

Regards,
Ed.

[cpap man] 02/8/2018 08:35

Many thanks Skiboy10 for all your great work on KOD - you might even become a fishmonger one day!

KOD bless you my son!

[edgein] 02/8/2018 08:34

Thelung,

Well we'll have to agree to disagree re-Boumou. If its not in the maiden its not down to the amount of holes drilled over that 400m strike length from this very shallow target. It'll practically be a pin cushion over that area.

Regards,
Ed.

[thelung] 02/8/2018 08:32

50m traded in the first 30 mins :-)

[thelung] 02/8/2018 08:31

Agreed Ed, although not totally convinced Boumou will be included given BA's comments in the webcast last week which were along the lines of 'it should make it' or words to that effect.

[edgein] 02/8/2018 08:30

I guess since we've substantially more holes drilled than Birimian did for their maiden JORC the numbers are likely to impress since they recorded more than 15Mt. With the gold assets, £3.5m cash and lith here £13m cap shows just how oversold these were, should really be at least double this before the JORC. The Chinese sure didn't think their 0.38p investment was buying at the top when they entered this last year, 0.19p is still only half of what they came in at. Folks will be up 100% before they breakeven on the bulk of their investment in KOD.

Worth comparing this with the presentation that Skiboy posted today too:



We're catching up fast with our neighbours, their next steps are environmental permitting and obtaining mining licence. Something that KOD have also ongoing at present. Certainly working with the Malian authorities for environmental permitting at present for KOD.

Regards,
Ed.

[edgein] 02/8/2018 07:59

Skiboy,

Thanks for posting those as further recent confirmation that the eyebrow raising maiden JORC due this Q.

Regards,
Ed.

[edgein] 02/8/2018 07:48

Thlung,

BA said what was going to be included in the maiden JORC in June this year (post 574). I didn't post anything more recent than that as June info should definitely be in the up coming release of the maiden JORC. As you point out nearly all of the holes drilled have been on the three main discoveries which are to be included in the JORC:

"Bernard Aylward, CEO of Kodal Minerals, said: "The Sogola-Baoule prospect is continuing to grow in our ranking and we are expecting to receive further mineralised intersections over the next few weeks. The development of this prospect demonstrates the positive results of our exploration approach and at the end of a very busy drilling season, we now have three advanced prospects at Ngoualana, Sogola-Baoule and Boumou. These prospects will form the basis of our initial project assessment and potential for the development of a "mining hub" at Bougouni. In addition, we have undertaken exploration drilling at Bougouni South and regional testing at Ngoualana that continue to develop our pipeline of exploration targets to further grow our project."

The intitial project assessment will be based on all three and I posted how advanced all three were back at the middle of June. Imo all three will quite easily be included in the maiden resource. They've had enough holes drilled by then. Even Boumou had around 5,000m drilled by the end of the season (end of June), over a 400m strike that should be more than enough to prove a resource.

Regards,
Ed.

[skiboy10] 01/8/2018 23:17

Latest interview July 25th 2018

Kodal Minerals focused on rapid development of flagship lithium project
12:39 25 Jul 2018